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The New Reality of Marketing
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The New Reality of Marketing

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The new reality of marketing is that it's more than strategy, analytics and tactics. But how do we define and encapsulate marketing in the age of real-time analytics, mobile, social and viral …

The new reality of marketing is that it's more than strategy, analytics and tactics. But how do we define and encapsulate marketing in the age of real-time analytics, mobile, social and viral strategies and tactics. Our information highway has become a twisting, turning toll way that will take more than a GPS to navigate.

Let's explore the new realities of marketing in this interactive session because like Dorothy and Toto, we're not in Kansas anymore.

Published in: Business, News & Politics

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  • 1. The New Reality of Marketing Bart Foreman Group 3 Marketing Wayzata, MN www.group3marketing.com
  • 2. An introduction Group 3 Marketing• Founded in 1988• Pioneer in database and loyalty Marketing• Full service marketing agency focusing on helping specialty retailers and B2B marketers maximize their marketing (and sales) growth potential
  • 3. Three TruthsChange is Change is You can’tinevitable constant keep up • It always • It always • But you can has been has been and manage the(From Gutenberg will be process and we to Zuckerberg) can help
  • 4. Reality 101Author and marketing guruSeth Godin said it best…
  • 5. The New Reality Technology • Multi-dimensional • Rollercoaster ride • Light SpeedMarketing Consumers (B2B & B2C)• Multi-dimensional• Rollercoaster ride • Multi-dimensional• Light Speed • Rollercoaster ride • Light Speed
  • 6. Your Real World Marketing Reality Greatest Failure to Failure toPoints of Marketing look under grasp the Pain Opportunities the rug situation
  • 7. Let’s Define MARKETING
  • 8. #1 Takeaway
  • 9. Takeaway #2: It’s Complicated – It’s PersonalMarketing’s four primarychallenges in 2012 • Determine what motivates consumers to buy in our categories • How to build the story • How to deliver the story • How to prove the business case – measuring results
  • 10. Why Marketing Channels Matter They do different things to influence the next sale • WebsiteThey are ALL important • E-mail • Mobile & Social Marketing • E-commerce • Direct Mail • Mass MediaThey meet specific They meet the customermarketing needs where she or he wants to• Acquisition be met• Retention • It’s a complicated marketplace• Growth • It’s personal• Defections
  • 11. Database Driven – Now it gets personal Data mining is the cornerstone of brand and store marketing campaigns POS system tracks customers’ store sales Every customer is tracked based on total sales, brand sales and SKU sales • Every customer has an RFM and decile ranking • Marketing knows the value of every customer Promotions are created based on the insights we learn from sales data
  • 12. Segmentation – The art of database management • At Risk Groups • PotentialCustomer DefectorsMarketing • Declining sales • Welcome Groups Brand Marketing • High Value Groups • Who’s buying • Underperforming • Who’s not buying stores • Who should be buying Store • CompetitiveMarketing pressures • New distribution
  • 13. Takeaway #3 Data is KING  Content is QUEEN Marketing initiatives will  The message is critical not succeed without data  Not product focused about every customer  Not service focused  Personal demographics  Customer focused  Sales history  Segmentation creates Data that is relevant messages  Knowledge based  Up close and personal  Insightful  Specific triggers that  Actionable influence the next sale  Timely
  • 14. Takeaway #4 – A Freebee Focus on your customers  Where are they in their lifecycle with your brand  Active and growing  Active but not growing  Inactive – a lost cause?  Almost all are “underperforming”  Here’s the opportunity to influence ORGANIC GROWTH  Almost all are Hungry  They want information  They want knowledge
  • 15. Takeaway #5 – Another Freebee MOT - A P&G Concept  FMOT  SMOT ZMOT – A Google Concept  Zero Moment of Truth  Critical new concept  First step of engagement Old Media  The first ZMOT (and printing is there) New Media  The buying decision journey has changed R e me mb e  What once was a message is now a conversation r t h e G 3M  Word of mouth is stronger than ever and it’s digital  No MOT is too small De f i n i t i on of Ma r k e t i
  • 16. Dangerous Curves Ahead – Takeaway #6The New Reality of Marketing  Resist temptation to do everything  All these channels do not always apply to your business  Be in “Their Space”  Know your customers  Know where they are  Where they want YOU to be  Be relevant  To your business  To your customers  It’s not about you  It’s about your customers  Meet their needs  Satisfy their wants  Pay attention to change